Cathay General Bancorp (CATY) : 3 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Cathay General Bancorp (CATY). Zacks Investment Research suggests a Hold with a rank of 3.The median of all the 3 Wall Street Analysts endorse the stock as a Hold with a rating of 3.
Cathay General Bancorp (CATY) : 4 Wall Street analysts covering Cathay General Bancorp (CATY) believe that the average level the stock could reach for the short term is $32.13. The maximum price target given is $33 and the minimum target for short term is around $32, hence the standard deviation is calculated at $0.63.
Company shares have received an average consensus rating of Hold for the current week Cathay General Bancorp (NASDAQ:CATY): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $30.59 and $30.40 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $30.74. The buying momentum continued till the end and the stock did not give up its gains. It closed at $30.60, notching a gain of 0.66% for the day. The total traded volume was 302,707 . The stock had closed at $30.40 on the previous day.
In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director officer (Vice Chairman) of Cathay General Bancorp, Tang Anthony M had sold 50,000 shares worth of $1,389,500 in a transaction dated March 9, 2016. In this transaction, 50,000 shares were sold at $27.79 per share.
Cathay General Company is a bank holding company. The Company operates through Cathay Bank, a California state-chartered commercial bank (the Bank), seven limited partnerships investing in affordable housing investments in which the Bank is the sole limited partner, and GBC Venture Capital, Inc. The Bank primarily services individuals, professionals and small to medium-sized businesses in the local markets in which its branches are located and provides commercial mortgage loans, commercial loans, residential mortgage loans, real estate construction loans, home equity lines of credit and installment loans to individuals. It operates approximately 60 branches, across California, New York State, Chicago, Washington State, Texas, Maryland, Massachusetts, Nevada, New Jersey, Hong Kong, Taipei and Shanghai. It offers deposit products, including passbook accounts, checking accounts, college certificates of deposit and public funds deposits.